https://www.taxtmi.com/caselaws?id=431281 The Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the disallowance of interest paid on the partner's capital account for the assessment year 2014-15. The Tribunal emphasized that the deduction of TDS on the interest should be allowed in the year it was deducted and remitted to the Government, irrespective of the accounting method followed. The decision overturned the earlier rulings by the AO and CIT(A), ultimately allowing the appeal filed by the assessee. en-us Wed, 07 Dec 2022 00:00:00 +0530 Fri, 09 Dec 2022 10:01:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431281 The Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the disallowance of interest paid on the partner's capital account for the assessment year 2014-15. The Tribunal emphasized that the deduction of TDS on the interest should be allowed in the year it was deducted and remitted to the Government, irrespective of the accounting method followed. The decision overturned the earlier rulings by the AO and CIT(A), ultimately allowing the appeal filed by the assessee. Case-Laws Income Tax Wed, 07 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431281